Andhra Pradesh - Guntur   

Minister's pat for DCCB

Guntur: Minister for Secondary Education D Manikya Vara Prasada Rao on Friday said Guntur District Cooperative Central Bank had been doing yeomen service to farmers for the last 100 years.

Speaking at a function held on the premises of the bank here, Mr. Vara Prasad complimented the bank for standing first in the State by disbursing loans in Kharif to the tune of Rs.300 crore for 2009-2010.

Credit should go to the bank for disbursing crop loans worth Rs.3 lakh to every farmer, he pointed out.

He said the State Government was committed for the welfare of farmers and reminded that the Government took a positive step in waiving off weaver loans.

Later, the Minister released audit certificate, estimated budget for 2010-11.

Earlier addressing the general body meeting of the DCCB, Chairman Nallapati Siva Chandrasekhara Rao said that the bank had earned a profit of Rs.1.03 crore in 2009-2010.

The meeting also sanctioned estimated budget of Rs.10 crore for 2011-2012 and resolved to sanction loans under Vidya Jyothi scheme and make guidelines.

Educational loans to the tune of Rs.6 lakh would be given for students pursuing studies in India, while loans to the tune of Rs.10 lakh would be given for those pursuing studies abroad.

The One Time Settlement (OTS) scheme has been extended to March 31, 2011.

General Manager of the bank B. Viswanadham was also present.

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